As we step into a new year, it’s an opportune time to evaluate and set financial goals that will pave the way for a secure and prosperous future. Here are ten financial goals to consider for the new year.

1. Save more money
   Whether for an emergency fund, a vacation, or a down payment on a house, setting a goal to save more money is always a good idea. Need a place to stash your cash? Consider a high-yield Certificate and rest assured that your funds are federally insured with guaranteed returns!
2. Pay off debt
   Make a plan to tackle any outstanding debt you have, whether it’s credit card debt, student loans, or a mortgage. Set a budget and prioritize your payments to become debt-free. Consider a Personal Loan or a balance transfer credit card to consolidate your high-interest debt into one, low-rate monthly payment.
3. Create a budget
   Take control of your finances by creating a monthly budget. Track your income and expenses to ensure you’re living within your means and progressing towards your financial goals.
4. Invest wisely
   Consider investing in stocks, bonds, or other investment options to grow your wealth. Research different investment strategies and consult with a financial advisor if needed.
5. Start an emergency fund
   Buy what’s on sale, and then plan your meals around that. The number one way to save money at the grocery store? Plan your meals around what you buy, not the other way around.
6. Increase retirement savings
   Review your retirement savings plan and consider increasing your contributions. The sooner you start saving for retirement, the better off you’ll be in the long run.
7. Cut unnecessary expenses
   Take a closer look at your monthly expenses and identify areas where you can cut back. Cancel unused subscriptions, eat out less frequently, and find cheaper alternatives for everyday expenses.
8. Improve credit score
   Improve your credit score by paying bills on time, reducing debt, and keeping credit card balances low. A higher credit score can lead to lower interest rates and better financial opportunities.
9. Learn about personal finance
   Take the time to educate yourself about personal finance topics such as investing, taxes, and budgeting. UHFCU has partnered with Zogo, a free mobile app that pays you to learn financial literacy. Download Zogo and use the access code “UHFCU” to get started in seconds!
10. Set specific financial goals
    Lastly, set clear financial goals for the year ahead. Whether saving a certain amount of money, paying off a particular debt, or achieving a milestone in your investment portfolio, having clear goals will keep you motivated and focused on your financial success.